Intel records net profit of $2.44 billion

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San Francisco/New York, agencies:,

Apr 14 2010, 21:04pm ist

updated: Apr 14 2010, 21:04pm ist

The chip maker reported a nearly four-fold growth in net income at $2.44 billion for the three months ended March 2010, against $629 million in the year-ago period, while revenue rose by 44 per cent from the year-ago quarter to $10.29 billion.

Revenue for its PC segment rose 43 per cent from a year earlier, but was flat compared to the fourth quarter. It said improved sales increased revenues from Intel’s data centre group, which includes products for servers, by 48 per cent compared to the first quarter of 2009. For the second quarter, the company is expecting a revenue in the range of $9.8 billion to $10.2 billion.

“The investments we’re making in leading edge technology are delivering the most compelling product line-up in our history. These leadership products combined with growing worldwide demand and continued outstanding execution resulted in Intel’s best first quarter ever,” Intel President and CEO Paul Otellini said.

Intel’s margins should expand because ‘spending’ has come at a time when the firm released a flurry of new server, desktop and notebook chips with a focus on speed and performance.

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